Homepage Sitemap Contact us Accessibility Statement Top of the page

Crown Paints

Transaction Type: MBO
Status: Current Investment
Sector: Decorative Coatings
Investment Date: September 2008

Endless Contact: Warwick Ley

BACKGROUND

Crown is one of the leading manufacturers and retailers of branded decorative coatings in the UK and Republic of Ireland with an annual turnover in excess of GBP 180m. Headquartered in Darwen, Lancashire, the business operates two factories and 126 Crown Decorating Centres (“CDC”) across the UK and Ireland. With a proud history dating back over 200 years, the Business has a rich stable of leading brands in both the Retail and Trade sectors, including Crown, Sadolin, Sandtex, Macpherson and Berger.

INVESTMENT COMMENTARY

Despite difficult market conditions, the Business has achieved impressive growth in market share over the last two years. It was this performance, together with Management’s development plans for the Business, which initially attracted Endless to the investment. Endless is providing investment to support the separation plan from its former parent Akzo Nobel, alongside a number of development initiatives such as upgrading production facilities and the company’s CDC and logistics network. The transaction represents Endless’ fourth investment under Fund II, which held its first and final close in February 2008. Supporting Warwick Ley were Neil Baishnab, Indra Valeinis and Simon Mason from the Endless team. Endless enlisted the support of Deloitte as lead CF advisor and due diligence provider and DLA Piper as lead legal advisor. Walker Morris acted for Endless on fund-related matters and provided property legal advice with Hill Dickinson acting for management.

Back to Investments